Ken McCarthy

Banking trade groups have called for congressional hearings following the Jacksonville, Fla.-based credit union's agreement to purchase the $1.6 billion-asset Heritage Southeast Bank, the largest deal of its kind to date.

Ann Dubie stepped down from the Joliet, Ill.-based credit union in March after 20 years at the helm.

Over half of all credit unions with less than $250 million of assets are run by women, but those institutions continue to be merged out of existence. A group of 13 women who lead such organizations have banded together in an effort to ensure their survival.

The deal will see the $16 million-asset Georgetown FCU join the $258 million-asset PAHO/WHO. The combined institution will serve more than 7,500 members.

John Servos spent the last dozen years as CEO of the St. Louis-based Neighbors Credit Union.

Rex Johnson, who helped found the New Jersey credit union in 1980, was 77.

The new name is meant to position the credit union as a leader in technology and service.

Truity Credit Union in Oklahoma is selling its only branch in the state.

Proposed legislation would amend language in the Federal Credit Union Act to make it easier for credit unions to expel disruptive or abusive members.

The National Credit Union Administration issued only one prohibition order in March, barring a former branch manager of Greater Iowa Credit Union in Ames from working in the financial services industry.